saanich west DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 6.5 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 41% VS 2022
▲ 7% VS 2022
▲ 2.0% VS 2022
▼ 33% VS 2022
There were 52 detached listings in Saanich West in November, 10% below October and 2.0% higher than November 2022. November detached home sales decreased by 27% month-over-month, to 8, and were 33% below November 2022. The months of inventory for detached in Saanich West, at 6.5, reflected a balanced market. The detached median price in November was $1,010,000, a 1.0% decrease from October and 7% above November 2022. The average sold price was $1,268,125, 9% above last month and up 41% to November 2022.
THIS MONTH No. $1,268,125 $1,010,000 6.5 8 52
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
12 51
41% 7% 53% -33% 2%
11 58
9% -1% 23% -27% -10%
$1,163,182 $1,020,000 5.3
$900,140 $941,200 425%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
64
34
60
58
53
51
58
49
57
52
40
27
42
42
39
28
28
34
21
21
20
11
17
12
15
12
8
11
9
$1.16M
$1.16M $1.19M $1.20M $1.20M $1.12M
$1.07M $1.06M
$1.02M $1.01M
$941K
$930K
$880K
Nov-22
Oct-23
Nov-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
12
10
5.5
5.0
8
4.0
3.7
6
2.0
4
2
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
0 1 n/a
1 4 4.0
3 11 3.7
2 11 5.5
1 5 5.0
0 5 n/a
0 4 n/a
0 6 n/a
1 2 2.0
0 3 n/a
Copyright © 2023 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of December 11, 2023. All data from Victoria Real Estate Board & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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